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UAE investments in Egypt hit $6.66B during 2018

Tue, May. 14, 2019
CAIRO – 14 May 2019: Emirati investments in Egypt exceeded $6.663 billion during 2018, compared to $6.513 billion in 2017, according to UAE’s Ambassador to Egypt Gomaa Mubarak al-Junaibi.

This amount of investments put UAE in the first place in terms of foreign direct investment (FDI) in Egypt, according to data issued by the General Authority for Investment and Free Zones (GAFI).

Junaibi added that trade exchange between Egypt and the United Arab Emirates (UAE) recorded $3 billion during January to October 2018, noting that the number of Emirati Companies operating in Egypt reached 1,065 companies util March 2019, compared to $923 companies in 2017.

This came during his speech at the fourth meeting of the UAE investors in Egypt at the Ambassador's Residence in Cairo in the presence of a number of ministers and businessmen from the UAE and senior officials and leaders of UAE companies operating in Egypt in all vital fields.

"We hope that we have improved the bridges between the two brotherly countries and overcome the obstacles that some UAE companies have faced over the last three years in the hope that we will succeed together in overcoming any current or future obstacles,” he stated.

Junaibi also praised the important role played by the UAE companies operating in Egypt in pushing forward and consolidating bilateral relations at all levels, especially that the Egyptian government lauds the efficiency, quality and good reputation of the state companies.

The UAE ambassador also praised the efforts exerted by the Egyptian government to improve the investment climate in Egypt and provide promising investment opportunities and advantages, stressing that the UAE Embassy in Cairo is keen to support UAE investors in Egypt.

Junaibi commended the ministers and investors of the UAE for their diligent efforts and their outstanding role in the success of the UAE's investment projects in Egypt. He expressed hope that the UAE-Egyptian relations will continue on the road to progress and prosperity.
 
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